JSE Main Market 3 days 16,000 points plunge

Jamaica Stock Exchange Main Market plunged at the close of trading on Wednesday and, in the process, pulled JSE All Jamaican Composite Index down 16,165 points in three days and the JSE Market Index down by 14,744 points.
At the close of the market on Wednesday, the JSE All Jamaican Composite Index dived 6,722.84 points to close at 533,349.31, the JSE Market Index declined 6,069.73 points to 485,719.72 and the JSE Financial Index fell 1.22 points to 131.72. At the close, and Portland JSX closed at 52 weeks’ high while 138 Student Living traded at a 52 weeks’ intraday high of $6 and QWI investments closed at a 52 weeks’ low of 88 cents.
The market closed with 45 securities changing hands in the Main and US dollar markets with the prices of 13 advancing, 22 declining and 10 trading firm. The JSE Main Market activity ended with 43 securities trading and accounting for 12,415,818 units valued at $141,179,331 in contrast to 17,558,523 units valued at $50,385,050 from 37 securities changing hands on Tuesday.
Wigton Windfarm led trading with 3.4 million shares for 27 percent of total volume, followed by QWI Investments Limited with 2.5 million units for 20 percent of the day’s trade and Sagicor Select Manufacturing and Distribution with 2.4 million shares for 19 percent of the market’s volume. Sagicor Select Financial Fund was the sole stock trading more than 1 million units ending the day with 1.8 million shares.
The Market closed with an average of 288,740 units valued at an average of $3,283,240 for each security traded, in contrast to 474,555 units valued at an average of $1,361,758 on Tuesday. The average volume and value for the month to date amount to 489,068 units valued at 2,376,829 for each security changing hands compared to 600,940 units valued at 1,856,625 for each security traded. Trading in January resulted in an average of 626,134 units valued at $3,511,981 for each security.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows twelve stocks ending with bids higher than their last selling prices and three with lower offers. The PE ratio of the market ended at 19.5, while the Main Market ended at 18.7 times 2019 earnings.
In the Main Market, Barita Investments shed $1.90 in settling at $68.10, with 18,336 units changing hands, Caribbean Cement slid to $67.09, losing $2.91 in transferring 7,543 shares, Eppley Caribbean Property Fund climbed $4.07 to $41.07 trading 12,165 shares, Grace Kennedy dropped $4.49 to end at $69.51, after swapping 665,580 shares. Jamaica Broilers lost 99 cents exchanging 5,511 shares in closing at $35, Jamaica Stock Exchange slid to $30.50 with a loss of $1.50 trading 42,453 shares, JMMB Group lost 40 cents to close at $46 while transferring 141,054 shares. Mayberry Jamaican Equities ended at $10.60, after losing 40 cents exchanging 18,785 shares, MPC Caribbean Clean Energy climbed $6 to $196, after swapping 2,000 units, PanJam Investment closed $1 higher to $101, with 28,085 shares changing hands, Proven Investments dropped $4.50 to settle at $44.50, after trading 18,085 units. Sagicor Group fell by $1 to $66, in exchanging 23,432 shares, Sagicor Real Estate Fund lost 60 cents and closed at $9, after transferring 9,650 units, Salada Foods lost $1 to end at $30, with and exchange of 4,400 shares Scotia. Group moved 78,726 shares at $54.50, after falling $2.50, Seprod lost 93 cents to finish at $45.07 after a swap of 5,521 shares, Sygnus Credit Investments gained $1 to end at $25.50, with 47,837 shares changing hands. Victoria Mutual Investments closed at $10.27, with a loss of 67 cents while trading 188,182 shares and Wisynco Group lost 50 cents, transferring 70,723 units to end the day’s trading at $22.50.
Trading in the US dollar market ended with 36,279 units valued at over US$10,361. The market index dropped 12.49 points to close at 222.73. Proven Investments lost 4.3 cents to close at 27.2 US cents exchanging 35,743 shares and Sygnus Credit Investments gained 1 cent trading 986 units, to end at 18 US cents.

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